McKesson is adding a financial aspect to its emergency care solutions with the purchase of EN-Chart Scanning Program, LLC, a Dandridge, Tenn.-based provider of coding and charge-capture capabilities for EDIS platforms.
It's the second finance-related announcement by Atlanta-based McKesson in recent months, following the company's June rollout of Horizon Enterprise Revenue Management.
According to an EN-Chart analysis, emergency departments who see at least 50,000 patients a year stand to lose $84 per patient visit annually due to chart deficiencies and compliance problems. EN-Chart products are designed to automate the coding and compliance process, either as a stand-alone solution or integrated with an existing hospital EDIS, thus reducing errors and improving the charge-capture process.
"The emergency department is the front door for more than 40 percent of clinical experiences in the hospital setting, but it's also one of the greatest areas of lost revenue," said Duncan James, group president of health system solutions for Atlanta-based McKesson Provider Technologies. "For a department that operates with limited resources and razor-thin margins, EN-Chart helps EDs save both time and money. Combined with our industry-leading ED information system or an organization's existing EDIS, McKesson enables hospitals to not only achieve clinical excellence but also improve the economics of delivering care."
According to EN-Chart officials, the company's software has been used by at least nine health systems, resulting in the capture of between 30 percent and 50 percent of lost charges and an improvement of up to $4 million annually.
"Capturing proper ED coding on the front end of care generates positive returns," said Karen Marsh, EN-Chart's founder and CEO. "Our solution serves a vital need for hospitals by improving documentation, while simultaneously applying up-to-date coding guidelines and patient data analysis to create accurate and timely revenue cycles."
The deal marks the culmination of a two-year relationship between McKesson and EN-Chart.
"The ED is often a hospital's first impression for patients, making it critical to provide the best possible experience (and) the highest-quality care, and to do it as efficiently as possible," said Mark Bentley, vice president and general manager for McKesson's emergency care solutions.
How can hospitals best integrate clinical and financial efficiency in the emergency department? E-mail your comments to Managing Editor Eric Wicklund at eric.wicklund@medtechpublishing.com.